Section 11. Proiii aiicl after t,he colliing il.~to operation of this Act alicl notwith., ~ ~ p e s c n t Col.l,

11. Proiii aiicl after t,he colliing il.~to operation of this Act alicl notwith., ~ ~ p e s c n t Col.l,oratioll[sla~ldilig ][illfi ][repeal ][OP ][tl~c ][said ][Act ][VI of ][1.83'3, ][tbi: ][131.cscnt ] c . , J i j ; i ; i ~ ~ ~ d . aud ?'i.lli?i_li> ~Pi-o~?i'ietois ol' tlih ca;ljita! stocl, \ 0:' the 33al;k of :TJc;uyal sllo.11 coi~iiuuc to l ~ c a body cor1)orate Ly t1.1~ ~xuuc; 01 i.11~: 13:~ilI.z ~f 33en;.al `ii` `(;I.;` r?l{{ !;I;>: ,\, >: `\:.$L;<.` . . . - ACT No. IV `OF` 1862. 1 P I' . Bengal with perpetual succession, and shall continue to possess and enjoy all the rights, privileges, and iximunities incident by lam to a corporation aggregate. TIT. 'All property and securities for property, claims, ancl demalids whatProperty of the soever now vested in or held by the said Bank of Bellgal Bank. under and by virtue of the said Act VI of 1839, shall from m d after the coming into operation of this Act bc vested ancl continued in the said Bank of Bengal as and being a body corporabe under ancl by vhtue of tllis Act as aforesaid, and the said Bank of Bengal as such b6dy corporate shall be subject to all debts, demands, claims, and liabilities outstanding against k c said Bank at the time of this Act so coming into operation, and no suit or proceeding at law or in Equity then pending shall cease or abate in consequence of the repeal oi the said Act VI of 1839, or of the continuance of the said Bank by virtue of this Act. IV. The said Bank so continued as aforesaid shall ancl may sue and be Bank may sue and[sued by its corporate name aforesaid, and shall and may ] be sued by corporate have and use such common seal as the Directors of the said name, and hold transfer property. Bank shall from time to time appoint, and shall be competent as such body corporate to acquire and hold, either absolutely or conditionally for a term or in perpeituity, any description of propert37 whatever, and to transfer and convey the same. V. The existing capital of the said Bank now consisting of - - 2,675 shares Capital of the Bank.[of Co.'s Rs. 4,000 each, divisible into half and quarter ] shares, shall continue to be the capital of the said Bank, but shall fiom and after the codng into operation of this Act consist of 10,700 shares of Rupees 1,000 each, divisible into half and quarter shares, and such capital shall be subject to such increase as next hereinafter mentioned. VI. It shall be lawful for the Directors of the said Bank for the time being, from time to time, as and when they shall deem it Illcrease of capital. cxPe&ent so to do, and on such previous iiotification as they may deem sufficient in that behalf, to increase the said capital ai-~cl for that p~upose to makc such orclcrs and directions for the opening of s~~bscriptions towards such increase of capital by the Yrop~ietors of the Banli for the time being as to thein lliay seem fit, and also to allom- to the said Proprietors sucli .periocl to fill up tlle sulsscril3~iou as to the111 tlic snicl Directors sliall sccm mcct, am1 also ,to prescribe in T \ - ~ A niljluer ancl S c u ~ Ihc. mirl Prol>~ic!n~s hall subscri1.1~ ay -respectivel;y"d~sire~~to: . . subscribe, and also to make su ns as to them the saidDk.ectors may seem fit, for the dis the amount of new capital that may not be subscribed by Proprietors for the tiuie being, in the nianner ancl form so p~ ed.[Provided always that the capital of the said Bank, including any ] increase thereb that iiiay be made ~ u z d e ~ Section XXXVII of this Act, shall not in the exceed 30,000 shares of 1,000 Rupees each. VII. It shall be lawf~~l for any Proprietor of any 1,000 Rui~ees share or aforesaicl, at any time and from tiiiie to time to surrender such share or shares or half or quarter share or shares or any of then1 to the Directors of the Bank for the time being, and to clemand and receive from the Bank, in lieu thereof, consolidated stock to the like amo~uzt as represented by the share or shares or half or quarter share or shares so s~u~endered, and in like manner any Proprietor or other person subscribing for any portion of the new or increased capital under the provisions hereinbefore contained, may at his ol~tion subscribe' for sha>res or for consolidated stock or partly for shares and partly for stock. VIII. The consolidated stock aforesaid shall be transferable (s~~l~jcct to Consolidated stock[the ][~ ' O V ~ S ~ O ~ S ] hereinafter contained with respect to transfers) how transferable. in any amount or sum not less than 250 Rupees, and the holder of any share or shares or half or quarter shares or share oy of any consolidated stock, shall be a Proprietor of and interested in the capital of the Bank to the extent of the amount of the shares or half or quarter shares or stock so held by hini. IX. A certificate signed by three Directors of the said Bank shall be Certificates of &ares clelivered to the Proprieto~ of any shaiqe or ha'lf or quayter ana'eceipts for shares of the capital of the said Bank, upon denland l~iacle by such Proprietor, and any Proprietor of more than one such share or half or quarter share, may at his option clemand a certificate for each. or one certficatc for all his sllares, and a receipt shd1 `in` like nimner on cienla>ncl be deljjrerecl t,o tile PyoyyieCor of r ~ l y stocl;, a~lci any Prop~ietou of stock may at llis ol,t,ioll. drtm.and olio rccc.i;pt for t h c ~vllole of the st,ocli or scl?az.nt,c reccil~ts fey :t::~: poytions of Ute stocli so hcld by iliiu, X. , I a , : . j and in thc form set forth in Schcd~~lc A bereto a,nnexed. Provicled always illat no endorsement of a share, certificate, or deccl of transfer of stock sllall be effectual to transfer any interest in the sha,re or stock until such enclorsellzent or deed of tra,nsfer shall have been registered at the Bank of Bengal, and registration shall have bccn notcd on snch endorsenlent o r deed of transfel* rnder the hand of an Officer appointed for that purpose 'by the Directors of the said Bank. Providccl also that every transfey `of` shares or stock by endorsement 011 deed of transfey a.s aforesaicl shall be liable to Stamp Duty as a transfer of shaes ~mder Clause 19 of the Schedule A to Act XXXTTI of 1860, or any - ~ 1 1 . . The registerecl Proprietors for the tiiiie being of the shares ancl stock into whicli the capital of the said Bank shall be Corporation to conist of registered pro- clivided, aiicl no other persons, shall be rneabers of the prietors ouly. body corporate hereby continueel, ancl the Bank shall not be bomcl or affectecl by noticc of any trust to which any share oor stock may be subject - in the hands of the registered Proprietor thereof; and when any share or 'stock is vested in inore than one registered Propriet,or, snch Proprietors - s as between thenuelves and the Bank, be consideredas joint tenants nit of s~vi~rorshil). The shares and stock registered in the na,me of t General in Council slsall be cleeli~ed to beloiig to tlse Becre India in Council. . XIII. The bnsincss of tlic snicl Banli shall be managed b Directors. of ~~110111 (so long as the Government o sha,res OY stocl; in the said. Banli, or SO a,rr:~i1gcme-tlt; or sgrccillent rnjtll the; (-Jovc~.nl~ilent as .in A llci. *. ment:ioncd,. ~dlich has h e n ::lrcncly cuterccl .into or , . ACT KO. IV OF 1862. the Governor-General of India in Council, and the remaining D case the Government shall cease to hold shares or stock in the no such arrangement or agreement a.k a,foraaa,j.d. sha:l1 l.ema,in h Directors shall be elected and be removeable by vote of a genera the Proprietors. XIV. The persons who at the time bf this Act coming &to o Present Directors to ' shall be Directors of the said Bank, shall continu be continued. Directors of the said Bank, subject to rerbova.1 as afore and to the provisions hereinafter contained. X V. Two of the six Directors elected and to be elected the prietors shall in rotation go out of office on Two of.the elective Directors to go out by Monday in the month of December in every year, on rotation annually. (lay a general meeting of Proprietors shall be held for of two Directors in their stead. Proviclecl always that any Directors going out by rotation as aforesaicl shall not be re-eligible a l lhe electiou ~vhich takes place thereupon.[Provided also that the rotation existing at the time of ] this Act coming into operation shall continue to be observed. XkI. Clazcse 1.-No person shall be eligible or qualified to serve as a Director by election of the Proprietors, who shall not be a Disqualifications to serve as an elective Proprietor, in his o m right and unincumbered, of shares or Director. stock to the amount of twelve thousand Rupees at the least of the capital of the said Bank, or who shall be a Director or Agent or Manager of any other Bank or Branch Bank within the Town or Suburbs of Calcutta, c - or who shall be a partner of or managing agent for or shall hold a power of procuration-from any such Director, Agent, or Manager. Clause 2.-No two persons who shall be partners of the same mercantile so two parhers, fim,[of one of who111 shall be the general agent of, or-shalt ] - Cto kc., of the serve as same firm hold a power of procuration from, a mercantile &m of at the same time. which the other is a partne~, shall be eligible or qualified to serve as Directors at the same time. , XVII. In case of the death, resignation, or absence fro111 Calcutta foy more than three catlenclar months, or disqualification uhclel* . . . . : ? I ACT No. IV OF 1882. nation, call a sl~ecial general meeting of the Proprietors for the purpose of chooshg a successor to the Director so dead, resigned, absent, clisqualified, or removed, and such successor shall come into the same place in the rotation aboveme,~jtioned, in whic.h the deceased, removed, absent, ur disqualiiied Director mas. XVIII.[At general meetings of the Proprietors, whetlies ordinary or ] At general meetings special, every election and other matter submitted to the ed matters by a majority of tobe decidmeeting shall be decided by a majosity of votes, and no pervotes. son shall be allowed to vote at any such meeting in respect of any share or stock acquired by transfer, unless such transfer shall have been completed anci registered six months at the least before the time of such meeting, XIX. At all such gene~al meetings, the Proprietors shall vote according Scale of votes. to the following scale :- |4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|4Shares of Rupees 1,000 each or consolidated Stockanio~.ting to|Shares of Rupees 1,000 each or consolidated Stockanio~.ting to| |---|---|---|---|---|---|---|---| ||.||||||| |4,000 shall entitle to..............................|||||..............|.1Vote,|| |20 Shares or consolidated Stock ditto ditto Rs. 20,000|20 Shares or consolidated Stock ditto ditto Rs. 20,000|||20 Shares or consolidated Stock ditto ditto Rs. 20,000|20 Shares or consolidated Stock ditto ditto Rs. 20,000|2 Votes.|2 Votes.| |40|3,|ditto|ditto|I,|40,000|3|Y ,| |60|,,|ditto|ditto|,;|,;60,000|4|4<br>3 ,| |80|,,|ditto|ditto|3 ,|80,000|5|3,| |120|120<br>3,|ditto|ditto|,,|,,120,000|6|3 ,| |160|160<br>,,|ditto|ditto|,,|,,160,000|7|,,| and no Proprietor shall be entitled to more than seven votes. Provided also that wken any share or stock shall be held by joint registered Proprietors, the Proprietor whose name shall appear first in the Register as one of the holders of such share or stock, shall alone be entitled to vote in respect thereof and to receive notices `as` if he were solo Proprietor thereof. XX, It shall be lawful for the Governor-General of India in Council (so Government proxy. long - as the Government shdl hold shares or stock in the said Bank) to give a proxy in ~v~iting signed by one of the Secretaries to Government, to any person whom the Governor-General in Council may appoint to attend any general meeting of the ~ro~~rietors, and the holder of such proxy shdl be entitled to give seven votes upon all matte~s or questions that may be s~~bli~itted to sucll mectillg excepting upon the election 07 y p ~ j o ~ d of sr-~ch Qirectors as are electecl by the ssid Prol>rietor's, ==> picture [30 x 19] intentionally omitted <== * '\ \, ACT No. IV OF 1862. XXI. Any Proprietor entitled to vote at any general meeting may give a of propria. 1 ~ 0 x y in writing either general or special, under his hand tors. or the hand of his Attorney duly aathorized, to any other Proprietor, and such proxy shall be produced at tlie time of voting and shall entitle the person, to whom it is given, to vote on such matters as shall be authorized by the tenor of such prosy. Proxies existing and in force at the time of this Act coming into operation shall continue in force, anything herein contained notwithstanding. . XXII. At the first meeting of the Directors in every year, they shall Directors to choose a[choose a President from among themselves, and whenever ] President who is to the office of President shall become vacant, they shall at have a casting vote. their next meeting choose a successor for the remainder of the current year, and during any vacancy or in the absence of the President, the senior Director in rotation shall be Vice Presiclent for the time, and such President or Vioe Fresident shall have Ihe casting vote in all cases of an equal division of votes at meetings either of Directors or Proprietors. XXIII, The persons for the time being holding the office of Secretary and Treasurer or of Secretary alone, or of Deputy Secretary Accounts, receipts, and documents of the of the said Bank, are hereby severally empowered for and Bank, whom to be on behalf of the Bank to endorse and transfer Government signed. securities, Railway shares, certificates and Bonded Warehouse warrants, and other documents of title in goods standing in the name of the Bank, and to draw, accept, and endorse Bills of Exchange, Bank Post Bills, and letters of credit, in the current and authorized business of the Bank, and to sign all other accounts, receipts, and documents, connected with such business. XXIV, The seal of the said Bank shall not be affixed to any instrument except in the presenc7e of three Directors, who shall sign Seal to be used only in presence of three their names to the instrument in token of their presence, Directors who shall sign in token of their and such signing shall be independent of the signing of any presence. person ~ ~ h o may sign the instrument as a witness, ancl unless so signed by three Directors such instrument shall be of no validity. XXV. The Directors for the time being shall have power to a,l~point such off~cers, clerks, ancl scrvanbs, as may be necessary to conAppointment, remora ~ , alld rcnluneration LILIC.~ the 1311siness of tlie saicl Bank, and to rcuiove ally of oficcra, kc. oliicer, clcrk, or scrraut of' the, said 13t111l< znc! i v ilx t!!c salz1 i(;-: `~ i '` sucll ~Klii~~rs, ~1cl.lis; t l l ~ i i ssr~ant:, XXV-I. ACT No IV OF 1562. XXVI. No person nrllo shall holcl tlie office of Secretary ancl Treasurer, Prohibits certain of-[Deputy Secretary, Head Accountant, ] `[ol. ]`[Ulazanchee of ][the ] ficers fiwm engaging in saicl ~ a & , shall clkectly or indirectly engage `in` any other comother cotllruercial bu- sluess as principal, -mercial business, either OII his account individually or agent, or broker and requirca them ailie jointly irritki others, or as agent for any other persons, or act as a security. brol<er ; and every person appointed to any one or more of the said offices shall give such security to the Directors for the faithf~~l discharge of his duty as they shall think sz~fficient. Provided that tlie security to be given by any Secretary or Trct:su.rer shall be for not less than fifty tliousand Bupees. XXVII. The business of the said ~annk of `f` engal sliall consist in lending Business of the Bank[on Govern~iient Securities and shares in Railways the intercst ] specified. %Thereon shall have been guaranteed by Government, and on goods, wares, and merchandize not of a perishable lrind, in dracving, discounting, buying, ancl selling Bills of Exchange, anel other negotiable securities payable in Her Majesty's Indian Terrilories and not elsewhere ; in granting Post Bills payable `in` Her Majesty's Indian Territories to order or otherwise than to bearer on clemand ; in b ~ y i n g and selling gold and silver bullion ; in making invest - ruents in securities of the Government of India or in loans or Bonds secured by the Imperial Parliament on the revenues of India or in debentures of Railways guaranteed by the Government of India ; in receivipg deposits ; in opening cash accounts and credits ; in transacting peculliary Agency business on commission; and in selling propcrty or securities deposited `in` the Bank as security for loans and not redeemed, or property or securities recovered by the Bank in satisfaction of debts and claims. XXVIII. In addition to drawing, buying, and sellhg Bills of Exchange and for the Bank may drar Bills[granting Post Bills payable in India, ][it ][shall be lamf~~l ] of Exchauge, &cS3 for Bank to draw Bills of Exchange and grant Letters of Crcciit the use of their constituents in the Ageucy payable out of India for the use of their Constituents in the Department. Agellcy Department, ancl to buy Bills of Exchange payablc out of India for the purpose of relvitting funds to meet such Bills or Letters of Credit. XXIX. It shall also be lawf~~l for tlie said Hank through their Directors, DallLr may transact under any nrraligclneat[or agreement lvith the" Gover~lor- ] the busi~less carried on at tile Gcllelal Gc~zeral oL India in Couilcil on behalf of the Secretary of t:Ae Treasllr~j thc rna~lagelneilt an* underfi:;tat~: i.0~ I1ldia in Council, to take over and t~aixsact any part of thc G+orcf~~llment `PC,-` of' I ~ I \ ~ ~ U C S S or 01' 11itl~csio Gal Y ~ C C ~ 011 `i ~ f ,` Ccllc)r;tl 'I'rc~i- p ~ r Cu:rc:!sy. surj- (nj. ln t!re jjpl2;~rtmelli `"1` i!i2 ~cz(;:;u~u;:~ ci :>,3yt!! :!! i;011. TtYllia~i I 1, ' ACT No. IV OF 1862. TVilliam), and to superintend, manage, and become agents for the issue, payment, and exchange of Govei.nment Currency Not,es under Act XIX of 1861 (to provide for a Goverlznzelzt Pupej* Currency) or any Act which may hereafter be passed in relation to the Paper Currency of the Goveinment of India, and to pay the amount of such Government Currency Notes in silver to the holders thereof on presentation and demand, and the Directors of the said Bank shall have power from time to time to arrange and settle with the Governor-General in Council as to the terms of remuneration on which such business in relation to the General Treasury, ~ccointant General's Department, and Government Pa,pe~ Currency shall be undertaken by the Bank, and also as to the examination and audit from time to time of the accounts and affairs of the Bank on behalf of the Governor-General of India in Council. XXX. The Directors of the said Bank shall not make any loan or advance on shares or consolidated stock of the said Bank, nor Uirectors not to make loans on shares, on mortgage, or in any other manner on the security of any lands, houses, or irnmoveable property or the title-deeds relat- XXXI. The Directors of the said Bank shall cause the[' ] books of the said B O O ~ S to bebalanced[Bank to be balanced on the 30th day of June and the 31st ] half-yearly. day of Deoenxbey in every yeas, or grt s ~ o h other periods as shall from time to time be determined by theDirectors, and a settlement of the balance at every such period signed by a majority of the Directors shall be forthwith transmitted to one of the Secretaries to the Government of India, and the , / Governor-General of India in Council (so long as the Government shall hold shares or stock in the said Bank, or so long as any such arrangement with the Government as aforesaid, which has already been or shall hereafter be entered into shall remain in force), shall at all times be entitled to require of the said Directors any information touching the affairs. of the Bank ancl the production of any docunients of the said B a d , and the said Directors shall comply with every . . such requisition. XXII. An account of the profits of the saicl Ba,nk shall bc taken hlfdc- yearly on thc 1st clay of Jan~~ary and tlie 1st day of July in alf-~carly. every year, or at such other pcriocls as liiay Do111 tiliie to terniinccl on by the Directors, 0.11~1 n diviclcncl thcl>uol shall l ~ c liinde cr as con~cniont~ly ma37 be, and t,l~e t~l-uorozt of such clivitlcnd 'nee] by giii :i.)ii-,ei,[~ys tllc Jjaiill; 01.1 i,llC lj'--.'y- 'tblb 0f {,~IC: :l(:ttl:li pr<)f i s L' ACT No. IV OF 1862. profits made by the said Bank during the six calendar months pTeceding the day up to which such hslf-yearly account shall be taken, provided that the said Directors shall in their discretion have powel* tn set apart slnch portion of the - said profits as they may deem expedient to be added to the reserve fund against contingencies. XXXIII. On the 1st Monday of the nlontll of August in every year, a general meeting of the Proprietors of the capital of the said General meeting of proprietors. Bank shall be held, at which the Directors of the said Bank shall subniit to the said Proprietors a statement of affairs of the saicl Bank made up to the precediug 30th of June or to such other day as may be determined on by the Directors. XXXIV. At the fillst general meeting of the Proprietors of the Bank held after the corning of this Act into operation, one or more Election of Auditors. Auditors for the current year may be elected by a majority of votes at such meeting, and in like manner an Auditor may be elected at tlie first general meeting of the Proprietors in each current year. XXXV. ~ n y three of the Directors or any ten Proprietors of the said Convening of special[Bank may at any time convene a special general nmeeting. of ] general meetiug. the Pr~p~ietors u p ~ n giving fifteen days' previous nolice of such meeting, and of the purpose for which the same shall be convened as well to the Directors of the said Bank for the time being, as also by public advertisement in the Calcutta Gazette. XXXVI. It shall be lawful for tlie Directors of the said Bank, with the Establishment of[sanction of the Governor-Gene~al of India in Council, froni ] Branch Banks. time to time, to for111 business agencies and to establish Branch Banlts at such places as they inay deem ad~raiitageons to the interests of blie Bank, with full pomTer to the saicl Directors to appoint claring pleasure such agents, clerks, and scrvants and either with or without local Boards of Directors or management ancl under sucli regulations, restrictions, and conditions as to them may seein fit, and from time to time to vary S U C ~ ~ regulations, restrictions, a,llcl conclitions, and the said Agents and oilier Officers shall g i ~ e such secmity for their good behaviour as the Directors inay require ; ant1 it shall also be l a ~ ~ ~ f or u l t!lc Dil.ccto~s from timc t,o tiriie, ulicler any n19rnnge~nents or ag,l.cclllcufs {Ale (:ox c~~nol.-C:ci~cr:d in Coullcil 011 1)c~ilfilr' of the Sccreiaiay 01 Statc in (:onficil, 10 p~.o~-iclc: for the c~ndllct auci i~a1ls:tciioli 11)- ==> picture [5 x 7] intentionally omitted <== ACT KO. IV `OF` 1862. by any such Branch Rank or Banks of any part of the busincss of or hitherto conducted at the local Government Treasuries and for the superintendence, management, and agency of the local issue, payment, and exchange of any Government Currency Notes, provided that such arrangements and all regulations and directions given bg the said Directors to the Agents or Managcrs of such Branch Banks, touching the management thereof or the description of business to be undertaken thereby, shall not contain anything inconsistent with OY contrary to the provisions of this Act, or of any Bye-laws, Regulations, or orders which nlay be in force for the time being under the 40th Section of this Act. XXXVII. It shall be lawful for the Directors of thc said Bank, from thne Bank may take over to tinze, to enter illto negotiations for and to purchase an(1 capital and business of any other Bank, take over the capital, assets, and business of any other increase its own capi- and for that purpose Bank within Her Majesty's Indian Territories, of n;hicll tal. the capital is divided into shares, and to grant and allot to the Shareholders or Proprietors in such Bank in full of their respective right, title, and interest `iu` such capital, assets, and business a sufficient number of shares in the capital stock of the said Bank of Bengal (which n ~ m b e r shzll be determined by the Directors), and for that purpose to increase the capital stock of the said Bank by the issue of such number of shares as may be so determined on. The Sha,reholders or Pi.pprietors of the purchased Bank to whom such new shares shall be all'otted, shall be Proprietors of the Bank of Bengal, and be in all respects in the same position as if they had respectively subscribed and paid for the shares so allowed to them. Provided always that the business so purchased shall after the purchase be carried on by the said Bank of Bengal with, and subject to, the several restrictions contained in this Act. XXXTTIII. If any of the said Proprietors shall become indebted to the said Bank, it shall be lawf~~l for the said Bank to withhold If any proprietor becomes indebted to paynlent of the cfividends on the share or shares or conthe Bank. solidated stock of such Proprietor registered as his o~v~rn property, and not as held in t r ~ ~ s t or as executor or administrator, until payment of such clebt, z~nd to apply S L I C ~ di~~idends to-vvards payment thereof, ancl after clenland ancl clefa~~lt of payment, and notice in that beha.lf given, either to such Proprietor, or his constituted agent or by public aclvertiseulent in tile Calc?tttc/, Gazette, it shall be l~nrf~11 for thc said Ba.111~ to refuse: ~(;gistlba.ti~~ of t;,llc t,sansfer of -any such sllarc or sllaal'cs or P ~ O C ! ~ ~f SIICII Pro]7rict0~, ~1ntj.l 1,a.y. ,, . - `:C:ll:` ,. of SUi:jl nil(: `~ 1 . I` . `L` ~,CLITLC ,.<'- `~` Z L L C I -.I-.-3 ! I r~;!~iai1-1. - -. ~ l l i j ~ i ~ i d i;or i i ~ ~ ; ~ J ~ : ~ , ( : ~ six c:t:\lcnday s ~ ~ l u l ~ ! , l i s ;lft(x' sucll notice, i,o :ltl\-c~~i.i~o i ' o ~ l)nl,!i:: sa!c : i ~ r t l l o sell s~~(!,!l s!!a~.e. `01'` s!~ascs or si.ocli or so many or so 1nllc11 as rn;l;; ijc ~cccssa~.:,-, and 1.0 ACT KO. IV OF 1862. 1 " apply the proceeds thereof towards payment of such debt, with interest at the rate of six per cent. per annum, paying over the surplus, if any, to such Proprietor or to his lawful representative. XXXIX. Where by the death of any Proprietor his share or shares or stock sl devol his legal representative, the Bank Recognition of legal representatives of deshall nc be bou rec( ~gnize any legal repr esent ,atives ceased proprietors. of such deceased Proprietor other than a person who has taken out Probate to the Will or Letters of Administration to the estate of such deceased Proprietor from the Supreme Court of Judicature at 3'01% William, or who has obtained a certxcate in respect of the estate of such deceased PropiGetor under Act XXVII of 1860 ( f o ~ facilitating the collection of debts o?z successions, and for the security of parties paying debts to the represefitatives of deceased persons), describing such shares or stock, from a Court of coinpetent jurisdiction within the Presidency of 3'01% William. XL. It shall be lamful for the Directors for the time being of the said Bank to make and pass Bye-laws, Regulations, and orders - Power of Director for the ent, and in reference to the mode to make, alter, and rescind Bye-laws, &c. of cond iness of th le Bank, and su .ch R ,egulations and orders from time to time to modify, rescind, and vary, and it shall further be lamful for the Proprietors of the said Bank at any general meeting, mhether ordinary or special, to pass resolutions and frame and from time to time rescind and vary Bye-lams and Rules for the direction of the affairs of the Bank, and the same shall be binding on the Directors and Officers and on the Proprietors of the Bank, until rescinded or varied at any subsequent general meeting, provided always that no Bye-law, Regulation, or order, or alteration or rescission of any Bye-law, Regulation, or order, whether passed by tlie Directors or by the Proprietors at a general imeeting, shall be of any validity except in so far as the same shall be consistent with the provisions of this Act, and shall be approved by the Governor-General of India in Council, such approval to be signified in writing under the hand of one of the Secretaries -to the Government of India. XLI. In the constrnction of this Act, morcls in the singular number shall incl~~dc the plural, xvorcls in the idural shall include tlle Construction. sjup~~lar, ailcl ~~orcls ill tlle iilasculine ~cilclcr sl~all iiicluclc lc fellliuinc: cuccpt, `n` l1ei.c: i11e coutrn~~y npl,eai,s by tlie co~~l'est,